HI Traders, this is set up, we have a possible long position after price moved correctively to the support level
price has the potential of going to the downside based on multiple confluences
Gold is on the verge of falling after breaking out of its bearish flag pattern
Price has retraced correctively with a bearish flag to the previous support level as resistance .
This video is about the trade that was executed and the thought process behind the trade.
Price has presented as a bearish continuation pattern which will see price going to the downside
EURCHF is in a downtrend and currently price is creating a lower high which is also retesting the support level as resistance and also correlating with the trend line
There is a change of character on the 1h time frame . Waiting for price to pull back and go long
Price approached the supply zone correctively and presented a bearish engulfing with signifies a interception of bearish pressure
GOLD price is currently at the golden zone of the fibonacci level (0.50,0.61) which coincides with the 3rd touch of the trend line
GBPJPY is bullish on the higher time frame. Currently price is in a corrective state forming a pattern that is likely to see price going to the upside